Northern Trust Corporation (NASDAQ:NTRS)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank Of Canada in a research note issued on Thursday, June 29th. They presently have a $97.00 price target on the asset manager’s stock. Royal Bank Of Canada’s price target points to a potential upside of 11.16% from the stock’s previous close.
NTRS has been the subject of several other reports. Credit Suisse Group reissued a “hold” rating and set a $90.00 price target on shares of Northern Trust Corporation in a report on Friday, May 5th. Jefferies Group LLC raised Northern Trust Corporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $102.00 in a report on Tuesday, April 11th. Deutsche Bank AG reissued a “hold” rating and set a $96.00 price target (up from $93.00) on shares of Northern Trust Corporation in a report on Saturday, April 29th. BidaskClub raised Northern Trust Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Bank of America Corporation reissued a “buy” rating and set a $98.00 price target (up from $61.32) on shares of Northern Trust Corporation in a report on Friday, May 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $94.50.
Northern Trust Corporation (NASDAQ NTRS) traded down 0.46% during mid-day trading on Thursday, hitting $87.26. The stock had a trading volume of 946,510 shares. The firm has a market capitalization of $19.94 billion, a price-to-earnings ratio of 19.83 and a beta of 0.94. Northern Trust Corporation has a one year low of $65.92 and a one year high of $99.30. The stock’s 50 day moving average price is $94.11 and its 200 day moving average price is $89.13.
Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.05. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. Analysts forecast that Northern Trust Corporation will post $4.73 EPS for the current year.
Northern Trust Corporation declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Susan Gillian Pembleton sold 9,793 shares of Northern Trust Corporation stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $88.29, for a total value of $864,623.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Frederick H. Waddell sold 205,923 shares of Northern Trust Corporation stock in a transaction on Friday, May 5th. The shares were sold at an average price of $90.46, for a total value of $18,627,794.58. The disclosure for this sale can be found here. Insiders sold a total of 385,359 shares of company stock valued at $35,242,166 over the last ninety days. Insiders own 1.27% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Huntington National Bank raised its position in shares of Northern Trust Corporation by 54.0% in the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock valued at $106,000 after buying an additional 382 shares during the last quarter. Kings Point Capital Management acquired a new position in shares of Northern Trust Corporation during the first quarter valued at about $101,000. Trust Department MB Financial Bank N A raised its position in shares of Northern Trust Corporation by 6.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,172 shares of the asset manager’s stock valued at $101,000 after buying an additional 72 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Northern Trust Corporation by 689.7% in the fourth quarter. Bessemer Group Inc. now owns 1,303 shares of the asset manager’s stock valued at $116,000 after buying an additional 1,138 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Northern Trust Corporation during the first quarter worth $117,000. Institutional investors own 82.90% of the company’s stock.
Northern Trust Corporation Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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